Oregon voters have given approval to Measure 91, making the state the third in the nation to legalize recreational cannabis.
Measure 91, which will allow everyone 21 and older to possess and use up to eight ounces (half a pound) of cannabis, as well as cultivate up to four plants, will go into effect on July 1st. The Oregon Liquor Commission will then have until January 1st, 2016 to establish rules and regulations for cannabis retail outlets, and will be required to begin accepting applications for such businesses three days later.
According to a recent study published by ECONorthwest, the price of cannabis under Measure 91 is likely to be around $140 an ounce, far lower than the average prices in Colorado and Washington.
Under Measure 91, 40% of the tax money brought in from cannabis sales will go to schools, 35% to state and local police and 25% to drug prevention and treatment programs.